CHURCHILL MANAGEMENT Corp reduced its holdings in KeyCorp (NYSE:KEY) by 10.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 537,896 shares of the financial services provider’s stock after selling 59,812 shares during the period. CHURCHILL MANAGEMENT Corp owned approximately 0.06% of KeyCorp worth $8,827,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of KEY. First Republic Investment Management Inc. lifted its stake in KeyCorp by 13.8% in the second quarter. First Republic Investment Management Inc. now owns 33,798 shares of the financial services provider’s stock valued at $412,000 after buying an additional 4,106 shares during the period. Stifel Financial Corp increased its stake in shares of KeyCorp by 12.2% in the 2nd quarter. Stifel Financial Corp now owns 364,521 shares of the financial services provider’s stock valued at $4,440,000 after acquiring an additional 39,518 shares during the last quarter. Tudor Investment Corp Et Al acquired a new stake in shares of KeyCorp in the 2nd quarter valued at approximately $326,000. Glenmede Trust Co. NA boosted its stake in KeyCorp by 73.7% during the 2nd quarter. Glenmede Trust Co. NA now owns 79,904 shares of the financial services provider’s stock worth $971,000 after acquiring an additional 33,906 shares during the last quarter. Finally, Cigna Investments Inc. New grew its holdings in KeyCorp by 14.2% during the second quarter. Cigna Investments Inc. New now owns 31,690 shares of the financial services provider’s stock valued at $387,000 after purchasing an additional 3,950 shares during the period. Institutional investors own 76.59% of the company’s stock.
In related news, Director Trina M. Evans sold 15,861 shares of the company’s stock in a transaction dated Tuesday, November 24th. The stock was sold at an average price of $16.51, for a total transaction of $261,865.11. Following the sale, the director now owns 83,620 shares in the company, valued at $1,380,566.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.70% of the stock is currently owned by insiders.
KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Wednesday, October 21st. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.05. KeyCorp had a net margin of 16.38% and a return on equity of 7.87%. The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same period in the previous year, the business earned $0.38 EPS. The company’s revenue was up 3.5% compared to the same quarter last year. On average, equities analysts predict that KeyCorp will post 1.13 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st were issued a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend yield of 3.94%. The ex-dividend date of this dividend was Monday, November 30th. KeyCorp’s payout ratio is 41.11%.
A number of equities analysts have recently weighed in on KEY shares. TheStreet raised shares of KeyCorp from a “c+” rating to a “b” rating in a research report on Tuesday, November 3rd. BMO Capital Markets decreased their target price on KeyCorp from $25.00 to $24.00 and set a “market perform” rating for the company in a research note on Wednesday, November 4th. Deutsche Bank Aktiengesellschaft increased their price target on KeyCorp from $14.00 to $18.00 and gave the stock a “hold” rating in a report on Wednesday, January 6th. Royal Bank of Canada lifted their price objective on KeyCorp from $14.00 to $17.00 and gave the company an “outperform” rating in a report on Thursday, November 12th. Finally, TD Securities lowered their target price on KeyCorp from $29.00 to $27.00 and set a “buy” rating for the company in a research note on Thursday, November 5th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. KeyCorp presently has an average rating of “Hold” and an average target price of $19.42.
KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. It operates in two segments, Consumer Bank and Commercial Bank. The company offers various deposits, investment products and services; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.
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